Introduction:
Finance Blog: Have you ever wondered what would happen to your things if anything happened to you? It sounds scary, yet it is significant to prepare for that eventuality. That is the place and role of a will. A will is an important note citing your wishes when you are no longer around. It’s a way for your family and friends to know, once and for all, what truly matters to you. Now, let’s unlock the mystery of what a will is in the United States and why it would be something you’d want to consider even if it seems so grown-up!
What Is a Will?
What, exactly, is a will? For instance, suppose you have a certain toy that is most special to you, and when something happens to you, you want your best friend to have it. A will is in a way like a letter where you denote who gets that toy, or in grown-up terms, your things, which would include houses, money, and cars. In this country, any person above the age of 18 and who is of sound mind-that is, he knows what he is doing to make a will.
There are only a few vital components of a will. First, it declares who gets what. For example, you would say that your sister gets your favorite book and your cousin gets your bike. Second, if you have kids, a will lets you state who you would like to look after them if you cannot. This person is called a guardian. Last but not least, a will names some person, referred to as the executor or personal representative, who will take charge in seeing that the provisions of your will are carried out according to your desires.
Why Do You Need a Will?
By now, you may be asking yourself, “Do I need a will?” For reasons that follow, the answer is yes! A will provides the best way to have your wishes carried out. Without a will, nobody would know what you wanted, and therefore things might not go as one could have hoped. The things that are yours, by writing down who gets what in this will, saves your family and friends from guessing or arguing about those things.
Having a will also helps protect your loved ones. When something happens to you, the will can help in taking care of the people you mostly care about. Probably you want to leave money for your children’s education or to keep your partner in the house. All this is clarified by the will.
Another major reason for having a will is to avoid family fights. Sometimes, upon one’s death, members of the same family disagree on who takes what. The will prevents these arguments because this is a written plan that shows what you want. It is a referee to make sure everyone plays fair.
How Is a Will Made?
Writing a will does not seem so complicated, but it is pretty straightforward-you can simply make one out yourself, or have one prepared for you by a solicitor. If you do make one out yourself, some many online tools and guides will help you through it. To be blunt, just state who gets what and include all the important details.
Of course, once you have written your will, it should be signed. Well, here is the kicker: you will require other witnesses to sign in addition to yourself. These are people who witness you signing your will and then sign it themselves to give evidence that everything went down as it should. It is really important to have these witnesses since it gives evidence that, yes, this is indeed your will and you were earnest with it.
Once your will has been signed, it must be stored in a safe location. Some people lock their will in a safe, while others give their will to an attorney for safekeeping. Whichever method you choose to store your will, the important thing is that someone you trust knows where your will is located so they can get access to your will when the need arises.
What Happens if You Don’t Have a Will?
So, what happens if you do not have a will? Well, there is this big word for it-it’s called “intestate.” When one dies intestate, he just didn’t leave a will, and that could be a problem. In case one dies without a will, the court takes over and determines who will get your stuff. The court will follow the state’s law for determining on who gets what, and those laws might not like what you want.
If you die without a will, then some of your property could end up with people that you do not necessarily want to have it, or it might take a lot of time. This is very burdensome for your family since they cannot get what they need or what is rightfully theirs. That is why having a will is very important; it just makes things easier for all the people in your life.
Conclusion:
A will might sound like something only relevant to older individuals, but in reality, it is relevant to us all. It is a simple means of ensuring your wishes are dealt with and those you love are protected. Whether you have an entire mansion full of stuff or even just those few things important to you, a will helps make sure everything goes where you want it to go.
If you have not considered a will, now’s the perfect time to think about it. The process is quite simple and can give one a lot of comfort, knowing one’s future is sorted out. Why wait? Start planning your will today to secure your loved ones no matter what.
Remember that one thing a will is not: just a piece of paper. A will is your way of continuing to speak when you are no longer here to have your say. This is the gift you leave to yourself and to the most precious ones around you. Take the first step in demystifying how to create a will in the United States of America!